Whole Life Insurance FAQs

Approaching older age may seem daunting for some and for others it is just another year. However, as your age creeps up, it is important to take into consideration the potential health risks associated with getting older. Whether you are fit for your age or have some health issues, it is important to be prepared for what may or may not come in the future. Ensuring that you are protected with whole of life insurance means that you can rest assured knowing that in a case of death, your family will be taken care of financially and any other debt related expenses will be covered. The cost is based on your age, smoker status and the amount of cover you are looking for. The policy can be written on a single, joint or dual life basis and is medically underwritten. It must be taken out before your 75th birthday. Get in touch with the friendly team at Hello.ie today to find the most competitive over life insurance quotes on the market.

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What is Whole Life Insurance?

Whole of Life cover brings you a guaranteed lump sum when you die. This lump sum can be used to pay for necessary expenses, any financial strains or simply to leave something behind for your loved ones. The lump sum is guaranteed as long as you continue to make payments up to the date of your death. A Whole of life policy can also be used to cover Inheritance tax. The payment is guaranteed as long as you continue to make the monthly payments.

What does Whole Life Insurance Not Cover?

Whole life cover does not act as critical illness cover. If you are diagnosed with an illness that is financially straining, you will not be protected by your whole of life insurance. It is advised that you take out separate policies to cover illness and income protection.

Am I required to Take Out Whole of Life Insurance?

The answer is no, you are not required to take out over whole of life cover. However, it is strongly advised especially for those who are concerned about what will happen to their family financially after they die. It also gives you peace of mind knowing that your loved ones will not have to face any stresses to do with death related expenses.

Why do I Need Whole of Life Insurance?

Whole of Life coverage is important especially for those who have families and those who want to ensure there are no financial difficulties left behind after they are gone.

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